GSIS collects ₧113M in loan payments in 2021 via Bayad app

STATE pension fund Government Service Insurance System (GSIS) announced having collected P113 million in loan payments since starting a partnership with CIS Bayad Center Inc. last year.

In a statement on Tuesday, GSIS President and General Manager Rolando Ledesma Macasaet said their partnership with CIS Bayad, operator of the Bayad app, for over 10 months now has helped them improve their collection efficiency.

According to Ledesma, transactions through the app has hit 17,720.

“Maraming salamat sa suporta ng aming miyembro at pensiyonado,” Macasaet was quoted in the statement as saying. “Ito ay patunay na maginhawa, mabilis at ligtas ang transactions sa Bayad.”

Of the total amount, GSIS collected the following: P36.06 million for 5,144 consoloan accounts; P26.26 million for 2,018 GSIS Financial Assistance Loan accounts; P16.05 million for 2,396 Multipurpose Loan accounts; and, P12.95 million for 3,395 emergency loan accounts, among others.

Morever, Macasaet said that starting this month they are eyeing to add around 10,000 over-thecounter payment outlets and online payment channles from different external payment service providers.

He also said they will be accepting monthly rental payments for those who availed the Lease with Option to Buy as well as the loan payments from inactive members.

To date, GSIS has accredited 3,003 Bayad outlets to accept payments for loans in advance; that are underpaid, delayed or unpaid; or in-default or unpaid for more than six months.

To settle loans through Bayad, members only need to present the SMS notifications received from GSIS, or loan balances reflected in the electronic GSIS Member Online (EGSISMO) or in the GSIS Touch mobile app. Subsequently, they need to fill out a Bayad form for their full name, business partner (BP) number and loan type, among others.

Loan borrowers who pay through any of Bayad’s payment collection sites will receive a text message to confirm receipt of their payment. They may also check their loan payment records via EGSISMO or GSIS Touch. GSIS will also email a copy of their official receipt.

Loan payments from members are also now accepted through the online apps of Union Bank of the Philippines and Land Bank of the Philippines.